Suppose the u. s. government decides to charge wine consumers a tax. before the tax, 50 billion bottles of wine were sold each year at a price of $4 per bottle. after the tax, 30 billion bottles of wine are sold every year; consumers pay $8 per bottle (including the tax) and producers receive $3 per bottle. the amount of tax on the bottle of wine is $ per bottle. of this amount, the burden that falls on consumers is $ per bottle, and the burden that falls on producers is $ per bottle.

In three to four sentences, explain the effect of a price ceiling on the quantity of a good and who this intervention intends to assist

while setting up his new office, an attorney ordered thick, frieze carpets for the floor. however, the building inspector had him remove the expensive carpeting. the building inspector stated that according to federal regulations, the office must be wheelchair accessible as it is a public area. he further explained that since wheelchairs do not maneuver well in thick, frieze carpeting, the carpets had to be removed and be replaced with smooth-textured carpets that do not restrict wheelchair maneuverability. this scenario illustrates how a company is influenced by the component of its specific environment.

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.